Oil Patch Bits: Calista declares 9th Elders’ Benefit distribution

The Calista Corp. board of directors has approved the ninth consecutive Elders’ Benefit Program distribution, totaling more than $700,000. Original Calista shareholders 65 years of age by Nov. 8 will each receive $325. Direct deposits and checks are expected to be distributed by the close of business Dec. 23.

The total of all Elders’ Benefit distributions since inception is $5 million. Separately, shareholder dividends total $41 million, with 52 percent of that total provided in the last three years.

With approximately 13,000 individuals, Calista has one of the largest populations of shareholders among the Alaska Native corporations. There are nearly 2,200 original shareholders at least 65 years of age. That’s an increase of 130 individuals from last year.

“More than 60 percent of Calista shareholders voted to approve the Elders’ Benefit Program during an advisory vote in 2007,” said Calista Corp. board Chair Margaret Pohjola. “This distribution is timely as Southwest Alaska experiences its first cold snap of the season.”

The Elders’ Benefit Program made its first distribution in 2008.